Unified Grocers, Los Angeles-based member-owned cooperative, said its sales momentum continued through the first half of 2014, although it posted a loss for its second fiscal quarter.
Bob Ling, president and CEO, said Unified was “extremely pleased” with second-quarter results, “especially the growth in sales.”
“We saw continued improvement across all business units. The growth in our sales activity began in the second half of fiscal 2013, and the momentum we have established is a validation of our long-term strategy to turn around the business. I am very optimistic about the direction we are going.”
The loss for the 13-week quarter, which ended March 29, was $1.7 million, compared with a loss of $4.6 million a year ago — which the company attributed to the historical slowdown in business during the second quarter — while sales rose 1.9% to $893.6 million; for the half the company had net income of $1.1 million, compared with a loss of $4.7 million a year ago, with sales increasing 1.4% to $1.9 billion.
The sales gains occurred despite the shift of the Easter/Passover holiday to Unified’s third quarter, the company noted.
Gross billings, including vendor-direct arrangements, rose 3.9% to $919.3 million for the quarter and 3.3% to $1.9 billion for the half; while patronage dividends were flat for the quarter at $2.5 million and down 1.9% to $4.9 million for the half.
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